OVERALL NIFTY PHARMA HAS A STRONG BULLISH TREND RIGHT NOW, DRREDDYS CAN SHOW 4216 LEVELS IN COMMING DAYS , LOWER SIDE 3890/3815 LEVELS WOULD BE IMPORTANT TO WATCH VIEWS AND SUGGESTIONS INVITED
Dr. Reddy's is showing traction on upside immediate target seems to be 4100+ Buy 4080 CE
19 MAY 2020 INSTRUMENT: DR REDDY TIME FRAME: DAY Chart type used for confirmation: Renko INDICATORS AND THEIR TRENDS: PSAR: Bearish STOCHASTICS: Bearish MOVING AVERAGE: Bearish ...
According to 4h chart it's a range and below 3935 support will reach target 3800.
Look at the chart all details are plotted clearly!!!!
SELL 3120 PROTECIVE STOP 3231 TARGET 3021-2927-281
BUY DRREDDY (Dr.Reddy's Laboratories Ltd) ABOVE 2916
DRREDDY (Dr.Reddy's Laboratories Ltd) BUY ABOVE 2875
Dr Reddy Short for 2460 levels. Weekly Resistance at 2960 levels
DRREDDY (Dr.Reddy's Laboratories Ltd) SELL BELOW 2746
Breakout of Symmetrical triangle DRREDDY close above 2675 will take it to 2800 Support at 2600 resistance at 2800
DRREDY SHORT if breaks 2597 , for target 2588
AS discussed in our channel www.t.me Dr Reddy is looking good for midterm positional trade with area marked in green as potential targets. DISCLAIMER: The Legal stuff - I'm not financial adviser and all the charts posted are for paper trading . PS make sure you give me a like, that way you get updates as I post them.... :) <3 You can join my free telegram...
THe Technical shows that major trend of DR reddy is bearish and it's about a correction and about to trend reversal.
after formation of an "V"....small channel ..then small channel broke itself...seems as if there is an formation of a bigger channel..which can take drreddy to an tgt - 2051...1963 has acted as an good support and resistance many times...however if 1963 breaks ..my view turns bearish with an tgt of 1894.
One can short drreddy below 2055 keeping stop loss of 2091 , 1st target is 1995, 2nd target is 1946.. one can also buy april 2000 put around 45-50.... just my view. do it on your own risk.......
buy call has been generated , one can buy above 2175 keeping stop loss of 2090, 1st target can be 2218, 2nd target can be 2262. ... do it at your own risk......